Rakesh Jhunjhunwala portfolio: Experts recommend buy on this below ₹100 stock

Rakesh Jhunjhunwala Portfolio: Federal Bank shares have been under selling pressure after climbing to their 52-week high of 107.55 shares on the NSE in the first week of April 2022. This Rakesh Jhunjhunwala share had a decline of more than 7 percent per week last week. 83.55 per share, which is more than 22 percent below its 52-week high 107.55 levels. But stock market experts see this decline in South Indian bank stocks as an opportunity to buy.

According to stock market experts, the Federal Bank has reported a good operating result in the Q4FY22 results and its strong recovery mechanism has helped to strong recovery and upgrade of SEK 347 million. They said that the Federal Bank’s share price is currently trading in the range 83 more 90 and once it gives breakout above 90 on a final basis, it would be very bullish.

Jitendra Upadhyaya, equities analyst at Bonanza Portfolio, highlighted the strong foundations of the Federal Bank: “Federal Bank has reported good operating results during Q4FY22. Higher operating results from continued investment in business and continued high liquidity ratio, providing an extra buffer cushion. On the asset quality front, unsettled assets improved to 2.80 percent of gross advances on March 31, 2022, from 3.41 percent a year ago. 347 million. “

Regarding the Federal Bank’s share price forecast, Sumeet Bagadia, CEO of Choice Broking, said, “This bank stock looks strong on the chart pattern. It is currently trading in 83 more 90 intervals. But, when it gives breakout above 90 on a closing basis, it would be very bullish and could go up to 98 more 100 in the short term.

Rakesh Jhunjhunwala shareholding in Federal Bank

According to the Federal Bank’s shareholding pattern for Q4FY22, Rakesh Jhunjhunwala and his wife Rekha Jhunjhunwala hold shares in this South Indian bank. Rakesh Jhunjhunwala and Rekha Jhunjhunwala jointly own 2,10,000,000 Federal Bank shares or 1.01 percent of the shares, while Rakesh Jhunjhunwala holds 5,47,21,060 or 2.64 percent of the shares individually. So, the Jhunjhunwala couple owns 7.57,21,060 Federal Bank shares or 3.65 percent of the shares.

Warning: The views and recommendations above are from individual analysts or brokerage firms, and not from Mint.

Subscribe to Mint Newsletter

* Please enter a valid email address

* Thank you for subscribing to our newsletter.

Leave a Comment